8 Shareholders’ equity and employee participation plans
8.1 Movements in shares outstanding
| Shares issued | Treasury shares | Shares outstanding |
Balance at January 1, 2017 | 11,541,371 | – | 11,541,371 |
New shares issued based on employee participation plans | 106,406 | – | 106,406 |
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Balance at June 30, 2017 | 11,647,777 | – | 11,647,777 |
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Balance at January 1, 2018 | 11,664,872 | – | 11,664,872 |
New shares issued based on employee participation plans | 94,387 | – | 94,387 |
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Balance at June 30, 2018 | 11,759,259 | – | 11,759,259 |
8.2 Dividends paid
| 2017 | 2018 |
Number of shares eligible for dividend | 11,608,657 | 11,731,033 |
Dividends paid (CHF/share) | 1.75 | 2.00 |
8.3 Conditional share capital reserved for the employee participation plans
| 2017 | 2018 |
Balance at January 1 | 761,841 | 638,340 |
New shares issued based on employee participation plans | (106,406) | (94,387) |
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Balance at June 30 | 655,435 | 543,953 |
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Employee share options and employee shares, not yet delivered | 255,992 | 224,690 |
8.4 Conditional and authorized share capital for the purpose of future business development
| 2017 | 2018 |
Conditional share capital |
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|
Shares (with a nominal value of CHF 0.10 each) | 1,800,000 | 1,800,000 |
CHF | 180,000 | 180,000 |
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Authorized share capital |
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Expiry date | 13.04.2018 | 17.04.2020 |
Shares (with a nominal value of CHF 0.10 each) | 2,200,000 | 2,200,000 |
CHF | 220,000 | 220,000 |
8.5 Employee share option plans
(See note 10.4.1 of the consolidated financial statements 2017 for the terms and principal conditions.)
Movements in employee share options:
Employee share options | 2017
| 2018
|
Balance at January 1 | 113,893 | 94,984 |
Exercised | (22,088) | (17,374) |
Forfeited or expired | (1,334) | (2,850) |
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Balance at June 30 | 90,471 | 74,760 |
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Thereof exercisable at period-end | 40,827 | 27,910 |
8.6 Employee share plans (Performance Share Matching Plans [PSMP] and other share plans)
(See note 10.4.2 of the consolidated financial statements 2017 for the terms and principal conditions.)
Movements in employee shares:
Employee shares | 2017
| 2018
|
Balance at January 1 | 226,130 | 213,735 |
PSMP 2014 and 2015 - matching shares vested and transferred | (55,876) | (57,917) |
PSMP 2014 and 2015 - matching shares forfeited | (7,927) | (133) |
PSMP - initial shares transferred (blocked) | 26,630 | 17,089 |
PSMP - maximum of matching shares granted | 52,076 | 42,724 |
PSMP - initial shares forfeited and retransferred | (439) | – |
PSMP - initial shares de-blocked and available to the participants | (3,659) | – |
Share plan 2016 and 2017 - Board of Directors - shares vested and transferred | (2,251) | (2,064) |
Share plan 2017 and 2018 - Board of Directors - shares granted | 2,064 | 1,619 |
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Balance at June 30 | 236,748 | 215,053 |
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Thereof vested, but blocked until the end of the performance period | 68,116 | 65,123 |
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